Key points:
US spot bitcoin ETFs saw their fifth consecutive day of inflows on Wednesday at $105.84M. The BlackRock IBIT led the action as it had an inflow of $184.38 mln. The Bitwise BITB had inflows of $2.07M, while the funds by Ark Invest and Fidelity were among the largest outflows, accounting for a combined total of over $80M, according to data from SoSoValue.
Despite the strong inflows, the total daily trade volume for the 12 bitcoin ETFs fell to $795.88 million, from the previous day’s $1.11 billion. Since their January launch, those ETFs have seen a total net inflow of $17.94 billion, reflecting growing interest in spot bitcoin products.
Read more: Spot Bitcoin ETFs Inflows Rebound With $158 Million Net Gain
On Wednesday, Ether exchange-traded funds continued inflows by 100% with a total of $43.23M. Grayscale’s Ethereum Mini Trust saw the largest inflow of $26.63M, followed by BlackRock’s ETHA at $9.38 mln and Fidelity’s FETH at $6.45 M.
But since July, ether ETFs have witnessed $580.94 million in total net outflows, while recent inflows could be an indication of newer interest in them. Meanwhile, the SEC has pushed the Ethereum ETF options listings review to November which would affect players such as BlackRock and Bitwise.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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Willemstad, Curaçao, 4th November 2024, Chainwire
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